Governments, regulators and policymakers should take deliberate actions to increase awareness of the operational mechanisms of the African Continental Free Trade Area (AfCFTA) so that businesses can leverage the benefits of the agreement, according to the Arusha branch of the Tanzanian Chamber of Commerce, Industry, and Agriculture.
This message was conveyed to the Members of the Pan-African Parliament Committee on Trade, Customs, and Immigration Matters during a meeting held as part of the fact-finding mission conducted by members of the Continental legislature to assess progress made on the implementation the African Continental Free Trade Area (AfCFTA) Guided Trade Initiative (GTI).
While Tanzania as a country has embraced the AfCFTA, with numerous adjustments made to trade policies to accommodate the agreement, private sector associations in the Arusha region noted that many businesses across the country were not fully aware of the benefits and operational mechanisms of the agreement and were, therefore, limited in their ability to leverage the agreement for growth.
They called on regulators and policymakers must champion awareness campaigns and infrastructure development to ensure businesses are equipped to leverage the opportunities AfCFTA presents, driving growth and cross-border collaboration across the continent.
Taking note of the call, Hon. Sen. Prof. Margaret Kamar, leader of the Pan-African Parliament delegation for the fact-finding mission, reiterated the recommendation shared with the Dodoma Chapter of the Chamber of Commerce earlier in the week. This would be further explored by the Pan-African Parliament, particularly in convening a summit of African Chambers of Commerce.
“African businesses stand to gain immensely from the AfCFTA, but we understand that awareness is critical. This will constitute a key component of the report to the plenary of the Continental Parliament at the end of this mission. We reiterate the idea of a summit of African Chambers of Commerce to increase awareness and align strategies to ensure that businesses understand their key role in this crucial process,” said Hon. Khamar.
The GTI, launched on 7 October 2022, aims to jumpstart trade under the AfCFTA by linking eight countries, including Tanzania, that have fully approved and published their tariffs under the common market's rules.
